Klinik Pintar announces oversubscribed USD 5M Series A1 funding

Jakarta-headquartered healthtech company Klinik Pintar has announced an oversubscribed $5 million Series A1 funding round led by Altara Ventures.

The round also saw participation from leading healthcare information technology (IT) corporate, Infocom, and existing investors Golden Gate Ventures, Skystar Capital and Venturra, Klinik Pintar said in a statement on Monday.

With funds from this new investment, Klinik Pintar said it plans to further expand its network reach and product offerings.

It said the firm is in the process of launching a second neurology specialist clinic in Greater Jakarta this year.

The company has also begun a strong foray into corporate care, launching more than a dozen on-site clinics with a leading Indonesian automotive manufacturer, with many more in the pipeline.

“With this new funding, we will continue to develop the best new products to improve clinical outcomes for our own clinics and our rapidly expanding partner network,

“We chose Altara Ventures to lead our round and join our Board due to their deep expertise in healthcare investments, complementing our existing investor base and operational expertise,” Klinik Pintar Chief Executive Officer and Cofounder Bimo Harya said.

Klinik Pintar is a digital clinic network in Indonesia that empowers clinics through technology so clinics can be more connected to an integrated health ecosystem.

Its services offered in its own clinics include doctor consultation, nursing, medicine, laboratory tests, and vaccinations for children and adults that can be accessed via walk-in, teleconsultation via virtual clinic, and home service.

Klinik Pintar’s clinic system for external clinics enables their digitalization and integration with key healthcare payers and distributors.

It also collaborates with corporates to provide easy access to health services for their employees/customers both online and offline.

According to the statement, Indonesia represents a $68 billion annual market opportunity to provide healthcare to 280 million people.

With 140,000 doctors serving this population, it said Indonesia has a ratio of 0.5 doctors per 1,000 population, compared to 2.5 in Singapore, and 1.0 to 1.5 doctors in emerging middle income countries.

It also noted that recent health-focused legislation, pivotal healthcare law amendments, and the 2024 Digital Health Transformation Strategy aiming for a collaborative “Indonesia Sehat” through a unified SATUSEHAT platform, create a conducive legislative and strategic framework benefiting digital health enterprises like Klinik Pintar.

It is noted that Klinik Pintar addresses this market need by improving access-to-care and enhancing medical outcomes with digital health technology and services.

As of November 2023, Klinik Pintar operates its own tech-enabled clinic network of 22 primary, specialty and corporate clinics in Greater Jakarta, while also delivering modern clinic management software, accreditation and training to over 1,500 third-party networked clinics across Indonesia.

Klinik Pintar said its technology is used by over 5 percent of all clinics in the country, a more than threefold increase in network size since the start of 2023.

Klinik Pintar’s software platform, Aplikasi Klinik Pintar (AKP) is connected to Indonesia’s Ministry of Health (SatuSehat), National Health Insurance program (PCare BPJS) and private insurance networks.

It is noted that using AKP, partnered clinics comply with recent regulation mandating integration with SatuSehat and seamlessly integrate with public and private health insurance, allowing clinicians to focus more energy on delivering patient outcomes.

AKP also offers direct procurement integrated with clinics’ inventory system, enabling the ordering of medicine, consumables and equipment at group-purchase prices, helping clinics achieve more sustainable operating margins.

“We were drawn to Klinik Pintar’s unique blend of uncompromising, high quality healthcare services, woven together with ‘battle-tested’, state-of-the-art practice management software,

“By providing first and third-party clinics with best-in-class tools, the company is well positioned to expand rapidly across Indonesia,” Altara Ventures General Partner Gavin Teo said.

Infocom Corporation Executive Officer Yoichiro Hamazaki said the firm chose to partner with Klinik Pintar to contribute the further enhancement and improvement of the healthcare outcomes in Indonesia society.

“Their software platform is enabling the local healthcare facilities better manage the operations and patient safety,

“We believe by working with them and integrating our drug clinical decision support software to Klinik Pintar’s platform will add a great benefit to its users.” he added.

Golden Gate Ventures Partner and Klinik Pintar Board Member Justin Hall said the firm is excited to increase its investment in Klinik Pintar with new partners Altara and Infocom.

“Together, we see vast potential for transformative impact in Indonesia’s healthcare,

“We remain committed to backing Bimo and the founding team as they broaden their scope, making quality healthcare more accessible across Indonesia,” he added. TechNode Global